Real-Time Economy
The Real-Time Economy project was set up by the Ministry of Economic Affairs and Employment of Finland. The goal of the project was to create the conditions for a digital economy.
The project has run from 2021 to 2024. The work done in the project has built a foundation for developing the digital economy further.
The Finnish Patent and Registration Office (PRH) has implemented the project in collaboration with the Finnish Tax Administration and the State Treasury. The other authorities participating in the project were
the Digital and Population Data Services Agency and Statistics Finland. In addition, a large number of private organisations have been involved in the project.
The Real-Time Economy project was a part of Finland's Sustainable Growth Programme. The budget of the project has been covered from the EU Recovery and Resilience Facility from the beginning of 2021.
What is digital economy?
The digital economy is a system where all business transactions are based on digital, structured
(machine-readable) information and processing.
In a digital economy, all services are online and able to talk to each other. Key business data moves entirely electronically and in real time – even to the authorities. When companies’ business data is processed automatically, they save time and money. Companies can also control their own data and use it more effectively their businesses.
The vision of the project is to create a national digital ecosystem for businesses that is compatible with the other Nordic countries. The system will enable online invoices, e-receipts and business data to flow automatically, securely and in real time between parties.
The project coordinated the Nordic Smart Government and Business work in Finland
The RTE project also coordinated the implementation of the Nordic Smart Government and Business (NSG&B) project in Finland and represented Finland in the NSG&B collaboration.
NSG&B was a project run by the Nordic trade registers to enhance the automation and use of financial data between businesses and from businesses to the authorities. Read more about the NSG&B project.
More information about the realtime economy
Information about goals and results compiled on the website yrityksendigitalous.fi
The project website has compiled the most important information about the goals and results and has guided forward in the changes of the interoperable digital economy. The project website will continue as a source of information of the digital economy ecosystem from 2025 onwards.
Check out the RTE website.Open link in a new tab
Final report and output reports
The project's final report summarizes the work carried out, its results and recommendations for further action towards vision 2030. The subject-specific reports in the appendices have been published only in Finnish (see webpage). They describe the development work carried out in the project in more detail. Appendices to subject-specific reports are only provided upon separate request.
Real-Time Economy Project, final report (pdf, 1.1 Mt)
Project Director
Ms. Minna Rintala
Finnish Patent and Registration Office (PRH)
Tel. +358 29 509 5244
firstname.lastname@prh.fi
